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overpayments on interest only
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carolbee
Posts: 1,808 Forumite
we have an interest only mortgage, 16 years left to run with 86500 left to pay. current payments 485pm, on repayment would be 738 per month. 6.75% .because of bad credit history, not sure if we could remortgage with another lender to maybe reduce interest so could be stuck with this one.
we now have an extra £350 per month to repay on mortgage, and would value opinions of converting to repayment to know for certain would be paid off within the term, as not sure that this amount would repay within the term on the current deal
have played around with the various calculators but cant afford to make a mistake and presume we could pay it back before the end of term
any ideas folks?
we now have an extra £350 per month to repay on mortgage, and would value opinions of converting to repayment to know for certain would be paid off within the term, as not sure that this amount would repay within the term on the current deal
have played around with the various calculators but cant afford to make a mistake and presume we could pay it back before the end of term
any ideas folks?
Carolbee
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